Change the credit reporting agency requirements so that only issued lines of credit stay on a credit report.

Hard inquiries on a credit report that do not result in a line of credit should not be included long-term on a credit report. The current system punishes consumers for shopping around over a period of time to get the best rate, and encourages quick decisions at the financial detriment of the consumer. Such inquiries should not stay on a credit report for more than a short period of time, because they do not reflect the sought after information about the consumer; credit worthiness. Instead, consumers should be allowed to shop without fear of disqualifying themselves from better rates because of too many credit inquiries. Such a change would encourage fiscal responsibility, instead of rewarding consumers for hastily made financial decisions.